The Central Economic Work Conference, which was held on Dec 18-21 in Beijing, has set the tone for China's economic policies in 2016. By mapping out the economic blueprint, the country has pledged to roll out a slew of long-awaited measures to bolster growth and lead the ongoing transition, including less housing curbs, more tax cuts, a better safety net, deepening medical and financial reforms and more aid to shake off poverty. Let's take a look at some of the major policies expected to impact our lives.

Lower housing prices to cut living costs

Property developers are called to adjust their marketing strategy and lower prices for commercial houses in a bid to boost demand and reduce the unsold homes. Data from the National Bureau of Statistics has shown new home prices in November increased in 33 out of 70 major Chinese cities compared to October.

Potential homebuyers visit a housing expo in Suzhou, East China's Jiangsu province, Oct 1, 2015. [Photo/IC]